Nixu grows in Swedish cybersecurity market
Finnish cybersecurity company Nixu is acquiring the cybersecurity business of Swedish security company Vesper Group.
Nixu will acquire the business in a cash transaction valued at around 1.6 million euros.
Vesper’s cybersecurity business hunts and detects breaches and threats in clients’ networks as a managed service and will further strengthen Nixu’s leading position in the Swedish market.
“The European cybersecurity market is fragmented and offers growth potential both organically and via acquisitions,” said Petri Kairinen, Nixu’s CEO. “Vesper Group selling its cybersecurity business and starting a partnership with Nixu is a clear sign that the market requires special, dedicated expertise, which is a key competitive advantage of Nixu.”
Nixu first entered the Swedish market in 2016 and has since acquired three cybersecurity companies in the country. The Finnish company’s strategic vision is to become the number one cybersecurity partner in Northern Europe, with a strong local presence in Finland, Sweden and the Netherlands.
It has experienced double-digit growth for several years now, with reported revenues of 40.1 million euros in 2018. It employs nearly 400 cybersecurity experts worldwide.
The latest acquisition is expected to be closed on 1 April.
Find out how Nixu grew to become the cybersecurity powerhouse it is today in our feature article.